Economic Indicators in the Automotive Industry.

Last Updated: 18 Jun 2020
Pages: 1 Views: 117

Impact of GAP on the automotive industry. The Federal Reserves primary goal is sustained growth of the economy with full employment and stable prices. Real GAP is the most comprehensive measure of the performance of the U. S. Economy. By monitoring trends in the overall growth rate as well as the unemployment rate and the rate of inflation, policy makers are able to assess whether the current stance of monetary policy is consistent with that primary goal. The automobile industry is one of the largest industries in the United States.

It creates 6. Million direct and spin-off Jobs and produces $243 billion in payroll compensation, according to a 2001 report on the "Contribution of the Automotive Industry to the U. S. Economy" prepared by the University of Michigan and the Center for Automotive Research (CAR). No other single industry is more linked to U. S. Manufacturing or generates more retail business and employment. America's automakers are among the largest purchasers of aluminum, copper, iron, lead, plastics, rubber, textiles, vinyl, steel and computer chips.

The light-weight vehicle sector is made up of the total unit sales and leases of mommies and imported new automobiles and light-weight trucks (up to 10,000 pounds gross vehicle weight). This includes sales and leases to both consumers and businesses. More than 3. 7% of America's total gross domestic product is generated by the sale and production of new light vehicles. As the chart below illustrates, a significant rise in sales in the light-weight vehicle sector is upon us: Table 1 Unemployment In order to measure the importance of unemployment, the United States uses what is referred to as the unemployment rate.

Order custom essay Economic Indicators in the Automotive Industry. with free plagiarism report

feat icon 450+ experts on 30 subjects feat icon Starting from 3 hours delivery
Get Essay Help

Cite this Page

Economic Indicators in the Automotive Industry.. (2018, Mar 06). Retrieved from https://phdessay.com/economic-indicators-in-the-automotive-industry-2/

Don't let plagiarism ruin your grade

Run a free check or have your essay done for you

plagiarism ruin image

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Save time and let our verified experts help you.

Hire writer